42 STATION BULLETIN 346 



Table 6. Financial Condition of Local Units of Government in New Hamp- 

 shire AS Reported by the State Tax Commission 



Assets 

 Governmental End of 



units fiscal year Cash Accounts Uncollected -pQ^ai 



on hand due taxes 



Counties December 31, 1939 $ 373,476 $ 40,131 $ 65,139 $ 478.746 



Towns and cities January 31, 1940 2,568,076 443,055 3,929,367 6,940,498 



School districts June 30; 1940 505,468 112,812 none 618,280 



Precincts January 31, 1940 180.596 71,943 none 252,539 



All units $3,627,616 $667,941 $3,994,506 $8,290,063 



Governmental 



Liabilities 



units Accounts Temporary Long-term Bonds Total 



owed loans notes 



Counties $ 186,012 $ 167,000 $ 148.000 $ 2,525,000 $ 3,026,012 



Towns and cities 2,109,468 2,390,178 2,048,009 9,479,880 16,027,535 



School districts 189,729 none 329,537 3,915.125 4,434,391 



Precincts 9,347 none 256,103 874,084 1,139,534 



All units $2,494,556 $2,557,178 $2,781,649 $16,794,089 $24,627,472 



row in anticipation of taxes, although counties are authorized to incur 

 short-term indebtedness upon the order of the commissioners with 

 the approval of the superior court whenever the money in the trea- 

 sury is not suf^cient to meet current demands. Therefore, most of 

 the temporary loans outstanding are those of towns and cities. Lia- 

 bilities of towns and cities are smaller in relation to the reported as- 

 sets than for the other units of local government. Considerably more 

 than half of the assets of towns and cities are represented by uncon- 

 lected taxes. This is not significant, however, as a means of meeting 

 long-time obligations. Notes and bonds are met by annual appro- 

 priations. Nearly two-thirds of the total liabilities of all units are rep- 

 resented by bonds outstanding, and the remaining one-third consists 

 of unpaid bills, temporary loans, and long-term notes. Bond issues 

 constitute a smaller proportion of the liabilities in towns and cities 

 than in the counties, school districts, and precincts. 



The total net debt of the state and its subdivisions amounted to 

 nearly 28 million, 41.2 percent of which was the net debt of the state 



Table 7. Net Debt of the State of New Hampshire and its Subdivisions* 



♦Annual report of the State Tax Commission, 1940. 



